In Canada, the golden visa program has gained popularity due to the country's stable economy, high quality of life, and welcoming environment for immigrants and foreign entrepreneurs. By understanding the different programs, meeting the eligibility requirements, and following the application process, you can embark on a successful journey toward obtaining permanent residency and potential citizenship in Canada. At Sobirovs Law Firm, we help foreign entrepreneurs succeed in Canada. Schedule a 1-hour strategy meeting and take your first steps to gain permanent residency in Canada.

WHAT IS GOLDEN VISA IN CANADA IN 2023?

The golden visa program, also known as an investor visa, offers foreign individuals and their families the opportunity to obtain permanent residency and even citizenship in Canada by purchasing a business or investing in a Canadian business. In Canada, the golden visa programs can be categorized into two main types: the federal investor programs and the provincial investor immigration programs.

Federal Golden Visa Programs

The federal investor programs are established on the national level and provide opportunities for foreign investors to obtain permanent residency. These programs include:

Provincial Golden Visa Programs

Provincial investor immigration programs are offered by individual Canadian provinces and territories. These programs allow provinces to nominate foreign investors based on their specific economic and demographic needs. Some provinces that offer these programs include:

Alberta

Alberta's PNP program is known as the Alberta Immigration Program (AAIP). It is one of the most popular programs in the Canadian prairies due to Alberta's ever-growing economy in the region.

British Columbia

In this province, you could be eligible for the BC PNP immigration pathway. This province's PNP pathway is one of the most popular ones in Canada along with Ontario's program. These two provinces have the biggest provincial economies in the country. Learn more about it in our video!

Manitoba

Manitoba offers a few PNP options, Farm Investor Pathway and Entrepreneur Pathway. In this province, you could be eligible for the BC PNP immigration pathway.

New Brunswick

This eastern province has a well-developed New Brunswick Provincial Nominee Program (NBPNP). Learn more about it here.

Nova Scotia

In Nova Scotia, immigrant entrepreneurs can benefit from Nova Scotia Nominee Program (NSNP). Learn more about it with us.

Ontario

This province has one of the most popular PNP programs due to Ontario's economy. Ontario Immigrant Nominee Program is highly popular amongst foreign investors. Learn more about it.

Prince Edward Island

The smallest Canadian province offers the PEI Provincial Nominee Program for foreign investors, entrepreneurs, and companies alike. Explore the program with us.

Saskatchewan

This prairie province offers the Saskatchewan Immigrant Nominee Program, most often targeting which is ideal for entrepreneurs and farm owners/operators.

Quebec

The province of Quebec does not have a PNP program but it has a similar investor program. As an investor-Quebec immigrant, you can start a business or invest in an existing one and live in Quebec. Learn more about Quebec's investor program.

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ELIGIBILITY REQUIREMENTS FOR A GOLDEN VISA IN CANADA

Applicants must meet certain requirements to be eligible for a golden visa in Canada. Remember that each golden visa program has its specific requirements. Here are some of the key eligibility criteria:

Business Activity

To be able to apply for any of Canada's golden visas, you must operate a business in Canada. This can be achieved in two ways. First, you can already have a successful business in your home country and expand your operations to Canada. Second, you can purchase an existing business in Canada. With either of the options, you will have an operational Canadian business.

Minimum Investment

Applicants are required to make a business investment in Canada by operating a business in the country. To be clear, no minimum investment amounts exist for any of the federal business immigration programs. However, you should have enough funds to create an active business presence in the country. In our experience, an investment between CAD $250,000 to CAD $350,000 is sufficient. With certain high-impact business ventures in rural Canada, a lower investment could be considered on a case-by-case basis.

Language Proficiency

Some golden visa programs in Canada require proficiency in English or French. Applicants may be required to provide language test results to prove their language skills. However, the main emphasis is on the applicant to have the language abilities needed to operate the business.

Business Plan

Almost all Canadian golden visa immigration programs require applicants to submit a business plan. The main goal of the business plan is to provide enough compelling evidence so that Canadian immigration officers can assess the viability of your business and the chances of success. As part of our business immigration services, our team can develop market entry strategies and viable business plans to complement your business immigration application. Schedule a 1-hour strategy meeting to learn more about our business plans and business immigration options.

Business Experience

Applicants are typically required to have a certain level of business experience or entrepreneurial background. This requirement ensures that applicants have the necessary skills and knowledge to contribute to the Canadian economy and operate their businesses in Canada. For most of the golden visa programs, you are not required to have direct experience in the business you plan on operating in Canada. However, having transferrable solid skills can help to boost the chances of a successful business immigration application.

Residency and Commitment

Depending on the golden visa program, you may or may not be required to show your commitment and intention to reside in Canada or a province/territory. Each program has its requirements, and where some programs want applicants to come to Canada temporarily, other programs require applicants to fully commit to residing in certain parts of Canada. Choosing a program that doesn't match your intention can lead to denial. At Sobirovs Law Firm, we ensure that your application is perfectly tailored to the golden visa that suits you, your business, and your goals. Schedule a 1-hour strategy meeting today!

STEP-BY-STEP GUIDE TO OBTAINING A GOLDEN VISA IN CANADA

Obtaining a golden visa in Canada involves several steps. Here is a step-by-step guide to help you navigate the process:

Step 1: Research and Choose the Right Program

Thoroughly research the different golden visa programs available in Canada at the federal and provincial levels. Consider your investment preferences, business goals, and personal circumstances to determine the program that best suits your needs. Applying to the most suitable business immigration program will increase the chances of your application being approved.

Step 2: Prepare the Required Documents

Gather all the necessary documents for your golden visa application, such as proof of funds, business plans, educational certificates, language test results, and other supporting documentation. Ensure that your documents meet the specific requirements of the program you are applying to. We cannot stress enough how important it is to have the complete application package when applying for business immigration to Canada. Your business immigration lawyer should know exactly what documents you must submit and include them in your application.

Step 3: Submitting the Application

Submit your complete application and the required documents to the designated immigration authorities. Pay attention to any specific instructions or deadlines provided by the program.

Step 4: Interview and Biometrics

Depending on the program, you may be required to attend an interview or provide biometric information, such as fingerprints and photographs, as part of the application process. Follow the instructions provided and attend any required appointments.

Step 5: Waiting for the Decision

Wait for the decision on your golden visa application. The processing times can vary depending on the program and other factors. Be patient and allow the immigration authorities sufficient time to review your application.

Step 6: Coming to Canada

Some business immigration programs allow applicants to come to Canada and begin setting up their business before the final decision on the business immigration application. So depending on your business immigration pathway, once you receive approval on your business immigration application, you can come to Canada. Otherwise, you will have to wait for the results of your application before coming to Canada.

Step 7: Operating the Business in Canada

Once your application is approved, you will begin operating the business under a work permit. It is essential to fully ensure that your business is successful and fully operational in Canada.

Step 8: Obtaining Permanent Residency

Under most business immigration programs, you can apply for permanent residency after 1 year of operating your business under a work permit.

PROCESSING TIME FOR CANADA'S GOLDEN VISA

In our experience, the processing time for Canada's golden visa programs is between 2 to 4 months. When it comes to processing time, Canada's recent commitment to efficiency and speed stands out. While individual cases may vary, Canada's golden visa programs generally offer a relatively speedy process compared to similar programs in other countries. With streamlined procedures and dedicated resources, applicants can expect timely responses and decisions. You can always check the most up-to-date processing times on the IRCC website.

It is important to note that providing accurate and complete documentation is essential to avoid delays. Prospective applicants can maximize their chances of seamless processing times by working with an experienced business immigration lawyer. Your lawyer will help you prepare the best possible immigration application and ensure that your case avoids common business immigration mistakes and pitfalls.

COST OF CANADA'S GOLDEN VISA

An investment ranging from CAD $250,000 to $350,000+ is typically required for a golden visa in Canada as a foreign entrepreneur or investor. This investment allows you to apply for one of Canada's investment immigration programs, making you eligible for permanent residency after operating a business in Canada on a work permit for a certain period.

The amount you invest depends on factors such as the type of business you choose – the above amounts are not set in stone. Certain businesses, like manufacturing or industrial production, may require a significant upfront investment, while others, like convenience store franchises or nail salons, may be easier to set up. The location of your business also affects the investment needed, with bigger cities generally requiring higher investments compared to smaller regions. Understanding the competition in your chosen market is crucial for accurate cost estimation. Our experienced lawyers specialize in helping foreign entrepreneurs immigrate to Canada and can provide tailored insights during a 1-hour consultation to help you navigate the business immigration process more efficiently.

FAMILY MEMBERS AND GOLDEN VISA IN CANADA

Golden visa applicants are allowed to bring their families with them to Canada. When foreign entrepreneurs apply for a golden visa, their partners can apply for an open work permit, and their children can apply either for study permits or residency permits (depending on their age). Once the business immigration progresses to the stage of permanent residency application, then the principal applicant and their family members can submit permanent residency applications.

In our experience, almost all foreign entrepreneurs coming to Canada through business immigration bring their families with them. As you can see, the entire process of business immigration applications, family immigration applications, and permanent residency applications is multifaceted. It requires careful assessment and professional assistance to increase the chances of success.

BENEFITS OF A GOLDEN VISA IN CANADA

Obtaining a Golden Visa in Canada offers numerous benefits. Here are some advantages you can enjoy:

Permanent Residency and Pathway to Citizenship

The Golden Visa grants you and your family the privilege of eventually obtaining permanent residency in Canada. This status allows you to establish your roots in Canada and enjoy the benefits of living, working, studying, and travelling freely within the country. Moreover, it serves as a stepping stone towards Canadian citizenship, offering you the opportunity to become a Canadian citizen and embrace all the rights and privileges that come with it. Through the Golden Visa program, you can lay the foundation for a prosperous future for yourself and your loved ones, building a life in a country known for its stability, diversity, and opportunities.

Access to Healthcare and Social Services

As a permanent resident in Canada, you and your family gain access to Canada's renowned healthcare system and comprehensive social services. This means you can benefit from world-class medical care whenever needed at no cost. Canada's healthcare system is designed to prioritize the well-being of its residents, ensuring that you receive timely and quality healthcare services. Additionally, the country's robust social services network supports and assists in various aspects of life, providing a strong safety net for you and your family.

Business and Employment Opportunities

Canada boasts a thriving economy and a business-friendly environment, making it an attractive destination for entrepreneurs and investors. You can tap into many business and employment opportunities with a golden visa. Whether you dream of starting your own business, investing in existing ventures, or seeking employment with Canadian companies, the Golden Visa program opens doors to many possibilities. Canada's strong economic foundation, along with its support for innovation and entrepreneurship, creates an ideal environment for your professional growth and success.

Education and Quality of Life

Canada is internationally renowned for its exceptional education system, consistently ranking among the top countries in terms of educational quality. As a golden visa holder, you and your family can benefit from this world-class education, with access to a wide range of schools, colleges, and universities. Canada offers an inclusive and supportive learning environment from primary education to post-secondary studies, allowing for academic excellence and personal development. Moreover, Canada is celebrated for its high standard of living, characterized by clean and safe cities, breathtaking natural beauty, and a welcoming and multicultural society. Embrace the Canadian way of life and enjoy the myriad cultural, recreational, and leisure opportunities available to you and your family.

FREQUENTLY ASKED QUESTIONS (FAQs)

Here are some commonly asked questions about getting a golden visa in Canada:

What is a Golden Visa in Canada?

A Golden Visa is a residency program that allows foreign entrepreneurs and investors to gain permanent residency in Canada by making investments, starting a business, or buying a business in Canada. Families of principal applicants of golden visas are also generally eligible to gain permanent residency and, eventually, Canadian citizenship. A good investor visa lawyer in Canada could easily guide you through the entire process.

What is the golden passport in Canada?

No, there is no golden passport in Canada. You cannot directly obtain Canadian citizenship through any of the current immigration programs. Instead, you could get a work permit in Canada if you are successful in one of the business immigration programs. After operating your business for a year or two, you and your family may become eligible for Canadian permanent residency. Lastly, you could apply for Canadian citizenship after being a permanent resident and residing in Canada for at least 3 years.

Learn more about the misconception of buying Canadian citizenship.

Why choose Canada for a golden visa?

Canada is renowned for its inclusive society, diverse culture, and strong economy, making it an attractive destination for individuals and families seeking a better future. By obtaining a golden visa in Canada, you can benefit from the country's excellent healthcare system, top-tier education, business opportunities, and a high standard of living for you and your family.

How do you qualify for a golden visa in Canada?

To qualify for a golden visa in Canada, applicants must meet specific criteria based on the respective golden visa program. Here are the key eligibility requirements:

  • Business Activity: Applicants must operate a business in Canada, either by expanding an existing successful business from their home country or purchasing an established business in Canada, ensuring an operational presence in the country.
  • Minimum Investment: While there are no fixed minimum investment amounts, applicants should have sufficient funds to establish an active business in Canada. An investment between CAD $250,000 and CAD $350,000 is considered adequate.
  • Language Proficiency: Some golden visa programs require proficiency in English or French. Applicants may need to provide language test results to demonstrate their language skills, ensuring the ability to operate the business effectively.
  • Business Plan: Most Canadian golden visa programs mandate the submission of a comprehensive business plan. This plan serves to demonstrate the viability and potential success of the business. Expert assistance is available to develop market entry strategies and viable business plans to enhance the application.
  • Business Experience: Applicants are generally expected to possess a certain level of business experience or entrepreneurial background. This requirement ensures that applicants have the necessary skills and knowledge to contribute to the Canadian economy and successfully manage their businesses.
  • Residency and Commitment: Depending on the golden visa program, applicants may need to demonstrate their commitment and intention to reside in Canada or a specific province/territory. Choosing a program that aligns with one's intentions is crucial to avoid potential denial.

How much do I need to invest for a golden visa in Canada?

The minimum investment amount for a Canadian golden visa is CAD $250,000, while the highest can be more than CAD $350,000. Your investment amount will depend on various factors like the golden visa you are applying for, the type of your business, the location of your business, and much more.

Can I include my family members in the application?

Yes, golden visa programs in Canada typically allow you to include your spouse or common-law partner and dependent children in your application.

How long does it take to get a golden visa in Canada?

The processing times for golden visa applications in Canada are between 2 to 4 months. The waiting times can vary depending on the program and other factors. It is advisable to consult with an experienced immigration lawyer for the most accurate and up-to-date information.

Can I start a business in Canada with a golden visa?

Yes, one of the advantages of a golden visa in Canada is the opportunity to start your own business or invest in existing businesses. This allows you to contribute to the Canadian economy and take advantage of the business opportunities available in the country.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.